Farcaster

On Hubs

1. We've said from the beginning, people will run Hubs without direct economic incentives. This has proven correct. 10K+ Hubs on the network.

2. This number is artificially high as there are likely many Hub operators hoping for a future economic reward. There will not be a reward.

3. Rewards don't make sense as there's no good way to prove that a Hub was honest and performant for a long period of time. Any deterministic system tied to an economic reward would create an incentive for fraud to fake running a Hub to get paid.

3. This is why Bitcoin and Ethereum do not pay node operators. Economic rewards are independent from running a node. Coinbase ran BTC / ETH nodes for years (pre-staking).

4. Our original goal was get to ~100 independent, good Hubs. Given network size, activity, number of companies building on Farcaster, seems like that number is achievable between 1) companies with an economic interest in access to the network and 2) altruistic individuals for hobbyist or ideological reasons.

Question: what do storage fees go towards?

/new-york by day 🗽 /latenightcrew by night :) Fan of eating tacos and bringing people together, often at the same time 🌮 oh and /untzuntz 😈

As a user I pay those fees with the assumption that they fund the storage of my data but that seems to not be the case?

They are sitting in a multi-sig. When the amount gets large enough, we'll figure out what to do with it. Not a pressing problem right no.